UMAR BALA SLIDE UMAR BALA UMAR BALA SLIDE.pptx

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1. A TECHNICAL REPORTON STUDENTS INDUSTRIAL WORK EXPERIENCE SCHEME (SIWES ) AT KUDAN LOCAL GOVERNMENT SECRETARIAT    ACCOUNTING AND FINANCE DEPARTMENT   FROM 2024 MARCH TO AUGUST 2024   BY UMAR BALA PSC/2021/20419 TO THE DEPARTMENT OF MATHEMATICS FEDERAL UNIVERSITY OF DUTSE-MA IN PARTIAL FULFILMENT OF THE REQUIREMENT FOR THE AWARD OF BACHELOR OF SCIENCE (B.Sc. Hons ) IN MATHEMATICS   JUNE , 2024  

2. INTRODUCTION Background of The Industrial Training Fund SIWES was established by ITF in1 973 to solve the problem of lack of adequate practical skills preparatory for employment in industries by Nigerian graduates of tertiary institutions. The Scheme exposes students to industry based skills necessary for a smooth transition from the classroom to the world of work. It affords students of tertiary institutions the opportunity of being familiarized and exposed to the needed experience in handling machinery and equipment which are usually not available in the educational institutions.

3. Scope and Objectives of SIWES SIWES will provide students the opportunity to test their interest in a particular career before permanent commitments are made . SIWES students will develop skills in the application of theory to practical work situations . SIWES will provide students the opportunity to test their aptitude for a particular career before permanent commitments are made . SIWES students will develop skills and techniques directly applicable to their careers . SIWES will aid students in adjusting from college to full-time employment . SIWES will provide students the opportunity to develop attitudes conducive to effective interpersonal relationships .

4. Brief History of Kudan Local Government Secretariat Kudan local government secretariat was create in 1996 with headquarters located in Hunkuyi about 136 kilometers from the Kaduna the state capital. Ithas a population of 138,956 (2006NPC) and a land Mass of 365sq. Kilometers. It shares land borders with Makarfi LGA by the East, Soba and Sabon Gari LGAs by the West and Katsina and Kano state by the North. The predominate ethnic group in Kudan LGA are Hausa/Fulani while Islamand Christianity are the two main religious practice there . Kudan LGA has ten (10) political wards namely: Kudan , Hunkuyi . Likoro , Zabi , S/ Gari , Doka , Taba , Garu , Kauran Wali North and south. In the LGA are also TWO (2) District Kudan and Hunkuyi . Kudan development area in the only development area in the LGA .

5. Introduction t o Final Account A Final account gives an idea about the profitability and financial position of a business to it management, owners, the public and other interested parties. All business transaction is first recorded in a journal. They are then transferring to a ledger and balances in arial balance. Those final tallies are prepared for a specific period. The preparation of final accounting is the last stage of the accounting cycle. It determines the financial position of the business. Under this, it is compulsory to make a trading account, the profit and loss account balance sheet .

6. TYPES OF FINAL ACCOUNT Cash flow statement The cash flow statement shows the in flows and outflows of cash from a business operating, investing and financing activities for a giving period. It shows how much cash a business has generated for its operations, investment, and financing. The cash flow statement t helps managers assess the efficiency and sustainability of a business, by showing the operating cash flow merging, the cash flow to sells ratio, and the free cash flow . Balance sheet The balance sheet shows the assets, liabilities, and equity of a business at a specific point in time. It shows how much a business owns, owes, and is worth. The balance sheet helps managers evaluate the liquidity and solvency of a business, by showing the correct ratio, the quick ratio, and the debt-to-equity ratio . Income statement The income statement summarizes the revenue and expenses of business for a giving period. It shows how much income a business has generated from its operations, and how much it has spent on various costs. The income statement helps managers assess the profitability and growth potential of a business, by showing gross profit merging, the operating profit merging, and the net profit merging .

7. Computer Keyboard A computer keyboard is a peripheral input device modeled after the type writer keyboard which uses an arrangement of buttons or keys to act as mechanical levels or electronic switch.

8. Computer Monitor A computer monitor is an output device that displays information in pictorial or textual form. A discrete monitor comprises a virtual display, support electronic, power supply, housing, electrical connectors, and external user controls .

9. Important of Computer Monitor A PC monitor, in simple terms is the screen you use to see everything in your computer. It is like a television (TV), but specifically designed to display information from your computer. Without a monitor, you wouldn’t be able to see the website you visit, the document you create, or the games you play .

10. Revenue Revenue is the money that is produce by carrying out normal business operation and is calculated by multiplying the average sales price by the number of items sold. It is the total sum of money form which other costs and expenses are subtracted to calculate net income .

11. Types of Revenue a. Government income assistance b . Portfolio income c. Active Income d . Passive Income

12. Problems Encountered a. Incorrect Calculations b. Incomplete Record c. Lack of Reconciliation

13. Summary During my six (6) months of IT, at Kudan Local Government Secretariat, I was designated to Accounting and Finance Department . I learned about final account which is the first thing to do before the functions of final account, types of final account. I also learned Computer Monitor, its important, Revenue, its types, how to calculate sales Revenue and many more . .

14. Conclusion After spending many weeks with the secretariat. I can boldly say it was excellent. I have learned a lot and have seen how things are done practically. I must confess that it has added value to my technical know-how. But more importantly, I learned what I love and I have passion for it.

15. Recommendation I recommend that the student industrial work experience scheme (SIWES) should never stop. It should been courage among the student. Student at various tertiary institutions and discipline should been courage to participate . I will also mention that government should always provide support for student to participate so that we can together build a brighter future for ourselves and the coming generation .

16. REFERENCES Historical background of ITF: https:// itf.gov.ng/about Historical background of SIWES: https ://www.siwes.itf.gov.ng/Identity/LandingPage/About   Objectives of SIWES: https ://www.siwes.itf.gov.ng/Identity/LandingPage/siwes   Fiber optics and equipment: https ://www.vsolcn.com/blog/what-optical-equipment-is-needed-for-fiber-optic-network.html   Internet , Accounting and Finance: https ://www.accf.com/gov.ng